Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

The reason I put down the question is that I noticed a lot of recent activity in NAMA has centred around the sale of loan portfolios as opposed to the sale of actual property assets. There was one high profile sale, Project Aspen, which was in regard to a joint venture, and another which was subsequently cancelled in regard to a portfolio called Project Club. I know the Minister has issued guidance to NAMA in regard to how the sale of property assets is to be conducted with a view to ensuring they are open market sales. The Minister referred to a certain procedure involving the appointment of loan brokers who then put the portfolios out to the market under certain circumstances. He might advise as to whether he has issued comparable guidelines to NAMA in respect of the sale of loan portfolios as he has already done in respect of the sale of property assets.

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